Shareholder Return Policy & Historical Result

Shareholder Return Policy

We focus on the “total return ratio” that combines dividends and share buy-backs, while retaining a robust financial base commensurate with the line of business and internal reserves necessary for the future business expansion. For the three-year period from the fiscal year ended March 31, 2016 through the fiscal year ending March 31, 2018, the Company sets an objective of 100% for the average total return ratio. With regard to the annual dividend combining interim dividend and year-end dividend, we set a “50% payout ratio and 4% DOE” as the minimum objective. Our policy for share buy-backs is to conduct them with flexibility by comprehensively considering the market price of the Company’s share, its liquidity, number of individual shareholders, and other circumstances.

Dividend paid

  FY12 FY13 FY14 FY15 FY16 FY17
Dividend per share
(yen)
(Interim)       6.0 6.0 6.0
(Year-end) 4.0 9.0 11.5 6.0 6.0  
(Total) 4.0 9.0 11.5 12.0 12.0  
Net income (bil.yen) 2.2 6.6 7.6 8.0 8.0  
ROE 6.7% 17.0% 17.2% 17.7% 13.9%  
Payout ratio 61.5% 47.8% 52.5% 51.4% 67.5%  
DOE 4.1% 8.1% 9.1% 9.1% 9.3%